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Sundaram Alternates SISOP

AUM (1115 cr) | Inc Date (1-Feb-2010)

Scheme Rating

IME Scheme Rating

3 of 5 stars

Can be considered for investors seeking a concentrated Large & Mid-cap portfolio, with a proven long-term track record.

IME Strategy Rating

3 of 5 stars

Sundaram SISOP (Sundaram India Secular Opportunities Portfolio) is a multi-cap (skewed towards large-cap), concentrated (~15 stocks), and sector-agnostic portfolio. At the scheme level, the strategy is quite tightly defined with clear concentration, style & fundamental benchmarks that are being followed. Strategy bias towards large-cap, but there is a reasonably high concentration in mid-caps (reflected in the core skills of Sundaram AMC). The strategy has matured successfully by investing in businesses with a large and mid-cap bias, capitalizing on their secular growth opportunities.

AMC Rating

3 of 5 stars

AMC: Sundaram Alternates PMS (click link for detailed AMC review)

Sundaram Alternates PMS is a mature provider specializing in small-and-mid caps. While it is differentiated from larger AMC-founded PMS providers, it suffers from MF-promoted PMS issues. Owner-managed PMS providers are typically preferred. However, Sundaram Alternates PMS has long-track records, differentiation in mid-and-small caps, and PMS-like strategies with higher concentrations and differentiated portfolios.

PMS Scheme Ratings are driven by IME’s Proprietary Scheme Rating Methodology, which takes into account our ratings of the Scheme’s investment strategy, its maturity, the investment team, and our separate rating on the AMC that runs this particular scheme. Our views on each of these individual criteria are available via the IME RMS – which you can view by reaching out to one of our relationship managers (using either the live chat or book appointment feature on this site).

Focused on sector agnostic portfolio and looking for companies with compounding stories

Sundaram SISOP aims to generate capital appreciation across market cycles by investing in a concentrated portfolio of around 15 stocks by following its “3Q” approach to stock selection:

  • Quality of business: Scalability, self-sustaining business models, Differentiating factors in business
  • Quality of financials: Ability to double earnings in 4-5 years, min-ROIC of 15%, OCF/EBITDA>50%, D/E< 0.5x.
  • Quality of Management: Track record, vision, high sustainable growth, identifying and investing in profitable opportunities, good corporate governance

Trailing Performance

1yr 3yr 5yr Since Inception
Sundaram Alternates SISOP 14 10.5 22.9 17.2
S&P BSE 500 4.8 12.3 24.8 13
Alpha over Broad Mkt BM 9.2 -1.8 -1.9 4.2
S&P BSE 500 4.8 12.3 24.8
Alpha over Category BM 9.2 -1.8 -1.9

Performance as of: 31-Mar-25 | Inception Date: 01-Feb-10

Fund Managers

Madanagopal Ramu | 3-star rated FM

Fund Manager | 20 yrs Experience | 7 yrs at current firm

Past Experience: Centrum (Analyst), PFC (Project Finance)

Having joined Sundaram as a research analyst in 2010, Madangopal went on to become the Head of Research and co-manager of a number of the Sundaram AMC funds. He joined the PMS division in 2018.

Karthik Athreya | 4-star rated FM

FM | 27 yrs Experience

Past Experience: Altico Capital, Clearwater Capital, Rabo, Arthur Andersson, PWC, Yes Bank

Karthik Athreya is in charge of the Alternative Financing strategy at Sundaram AMC. He has almost 22 years of expertise in corporate finance, investment banking, and principal investing. Prior to this, He established Altico Capital and oversaw Clearwater Capital’s India division. He worked at Rabo, Arthur Andersson, and PWC before becoming a founding employee of Yes Bank.

Fee Structure

Fee Structure Fee
Fixed Fee Structure 2.5
Variable Fee Structures 2.5% fixed + 20% above 10% hurdle
Exit Fees 1yr(1%)

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